IRS Payment Plan

If you’re not financially able to pay the IRS, there are options available that allow taxpayers to pay the IRS through an installment agreement. Charles Krengel, P.A. has been helping clients with tax problems negotiate the best possible arrangement to relieve seemingly insurmountable tax burdens. Continue reading to find out more about the types of IRS payment plans available, and how we will act on your behalf to find a solution to your problem.

Facing a Heavy Tax Burden

The prospect of facing the IRS is daunting, to say the least, but the worst thing you can do is to allow fear to cause you to avoid dealing with your tax problem. Charles Krengel, P.A. and our firm of CPAs will interface directly, on your behalf, with the IRS. We have decades of experience working directly with the IRS, and can handle every phase of the process.

The longer you avoid making arrangements with the IRS to pay your tax liability, the more penalties and interest you will accumulate and you will face IRS enforcement actions. That’s why it’s vital to establish an IRS payment plan that will pay your tax debt over an extended period of time. It’s far from unprecedented for taxpayers to find themselves with a tax debt that they are unable to pay in one lump sum, and the IRS has created a process for setting up an installment agreement.

The IRS has many programs available for automatic agreements when your tax burden is under $50,000. The IRS also offers partial pay installment agreements which means the total amount owed will not be repaid before the statute of limitations for collections expires. For example, suppose a taxpayer owes $100,000 in back taxes, there are five years left on the collection statute and the taxpayer’s ability to pay under IRS guidelines is $200 per month. Assuming your financial circumstances remain the same, you will have paid $12,000 at the end of five years and often times the remaining balance is written off by the IRS.

Charles Krengel, P.A. will take an in-depth look at your tax history and finances to determine the best payment plan for your situation. We will fill out all of the necessary forms and applications, and will handle every point of contact with the IRS. We consider ourselves to be trusted financial advisors to our clients, and through this approach we have created many long term relationships with individuals and businesses throughout the country.

Beware Tax Resolution Scams

Unfortunately, there are many Tax Resolution companies that are scams (click here to read an article about this from USA Today). These are big companies with flashy national advertising campaigns, which make big promises, and deliver little. They will often use high-pressure sales tactics, including promising resolution without ever looking at the specifics of your case. Of course, these promises come with a very high upfront price tag.

Many times, these tax settlement companies will conduct all of their business over the phone, with no face-to-face interaction. This is a sign that the company is more interested in doing a high volume of business, rather than getting the best results for their customer. Charles Krengel, P.A. uses exactly the opposite approach, meeting directly with the client throughout the process. Again, you’ll get to know our personnel as your trusted advisors.

Another warning sign is that these tax settlement companies will “guarantee” results without ever looking at the details of your case. By definition, this is a false promise, as ultimately the IRS is the only entity that can determine if you’re qualified for reduction of your tax burden. Charles Krengel, P.A. will sit down with you and look at the specifics of your tax history and finances, and only after coming to an in-depth understanding of your situation will we present you with specific strategies.

There are no easy solutions to tax problems, however, Charles Krengel, P.A. will take over the process, and give you peace of mind. Work with an established firm of experts like ours, with decades of experience dealing with IRS collection issues. Watch the video below to see how we made the process of dealing with the IRS as smooth as possible:

How Can Charles Krengel P.A. Help?

Charles Krengel, P.A. has helped clients negotiate solutions to their tax problems for decades. Through power of attorney, we will be the point of contact with the IRS, submitting the proper paperwork, and finding the best available solution for your specific set of circumstances. We won’t claim to know how your case will be resolved before looking at your tax history or finances, but once we do we will help you find the best resolution to your tax situation.